Regions Equipment Finance Reviews - Financial Lender Pros & Cons


talia-stern writer
By Talia Stern
Updated January 3, 2021
Editor's Rating
Best Capital/Equipment Lender
Customer Rating 0 Reviews

Overview

In 1972, three Alabama banks merged together to form Alabanc Financial Corporation, which was later changed to Regions Equipment Finance in 2006. Regions Equipment Finance is a financing institute that provides a range of financing solutions. It is a member of the S&P 500 Index, with assets that amount up to a whopping $126 billion. Regions Equipment Finance provides commercial loans and financing solutions for small and large businesses. It also offers wealth management, and mortgage products and services. Regions Equipment Finance serves a large number of customers across the South, Midwest, and Texas, and operates almost 1,400 branches. 

Pros
  • Fixed and flexible rate loans
  • 100% financing with no or low-down-payment
  • Soft cost solutions
  • Serves a large range of industries
  • Structured and deferred payment structure
Cons
  • The services are not FDIC Insured
  • The equipment may depreciate
  • A business must have at least a credit score of 670 to qualify for loans.
  • Only deals with A file businesses

Services Offered

Regions Equipment Finance offers a range of loans that can be used as working capital for the business. The details of services are as follows:

Equipment Financing Solutions

Regions Equipment Finance provides loans for every type of equipment - both new and used. The equipment financing service can help customers optimize their budget, cash flow, generate more profit, reduce costs, take advantage of tax benefits, create more working capital and strengthen their financial statements.

The team of Regions Equipment Finance has a lot of experience in providing equipment finance-related services. It listens to every requirement of the customer and provides solutions that can cater to their unique business needs. They provide up to 100% financing for either new or used equipment. Loans are available at flexible payment terms tailored to meet individual business needs. The company works with the motive of providing structured, strategic, and seamless solutions. The credit options include:

Term Loan: Also known as Principal/Interest Loan. This loan offers a fixed or variable rate of debt instrument that is secured by 100% financing of equipment.

Principal Reduction Loan: This type of loan works with a fixed principal with accrued interest payments. The agreement period of this service is decided by the customer.

Conditional Sale: This loan is an equivalent lease plan where the customer has to provide 100% of the financing for the purchase of the equipment in a required duration. 

Fair Market Value (FMV) Lease: The FMV contract is where the customer pays for the rent of the equipment he has taken or used.

Terminal Rental Adjustment Clause (TRAC) Lease: It is a lease agreement that includes a rental adjustment when the plan ends. 

No-Depreciation True Lease: This lease program limits the ownership with a purchase option, usually a bargain, so it no longer remains a true lease plan.

Sale-Leaseback: This financing service works with a Two-product arrangement plan. In this plan either the customer can purchase the equipment in a sale, or lease the equipment at its original price. For the lease plan, Region Equipment Finance offers has competitive rates and the customer has the option of flexible payments.

Technology Financing: Technology financing is specifically for IT companies that are looking for technology solutions.

Interim Financing: This financing option allows the customer to draw or revolve an account facility that is designed to finance the project costs. These costs can proceed without the need for additional documents.

True Revolver: The Revolving line of credit is a facility specifically designed for the RCA Platform, this service designs the working capital to finance businesses to exempt tax or not-for-profit purchases.

Tax-Exempt –Municipal Financing: The tax-exempt is a general classification for all tax-exempt municipal and 501c3 products, that includes term loans, lease purchases, flexible banknotes and bridge financing, and true revolvers.

Industries it serves:

Regions Equipment Finance serves a large number of industries.

Manufacturing & machinery

Transportation

Agriculture

Healthcare

Energy & utilities

Construction

Terms and Conditions

Equipment Finance Agreements (Loan) or Lease Purchase (Non-tax Lease): These services provide the business with the funds to purchase any equipment. The customer has the choice to select price rates either fixed or variable based on the type of equipment with 100% advance rates.

True Lease (Tax Lease): A true lease involves purchasing and depreciating equipment. Regions Equipment Finance gets all tax benefits and consumes the residual risk value. At the end of the lease plan, the customer can either buy the equipment, use a new one or renew the lease plan. The price of the lease is on a fixed-rate basis and has to be paid in the decided period else the customer will be charged with extra charges.

The Bottom Line

Regions Equipment Finance is one of the largest national lenders that provides its customers with flexible equipment financing solutions. When a business works with a strong firm to grow and prosper, the results are exceptional. The strategic approaches used by Regions Equipment Finance lead to diversity and involve doing the right thing for its customers, associates, partners, and shareholders. Regions Equipment Finance serves all types of businesses no matter what is the size and the industry. It provides a wide range of loans and lease plans that can fit any business requirements.

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